Marc Faber says Apple reminds him of Polaroid, and that we could see the company go completely belly-up, with CNBC’s Jackie DeAngelis and the Futures Now Traders.
Well, basically, this is the kind of stuff I’m really not interested in. This is the kind of Polaroid of 1970. Uh, Dr. Land, who was the founder of Polaroid, has more patents under his head than anyone else in the world and Polaroid went bust. And, we have many other examples of high tech companies that just faded away… I’m not saying [Apple Inc.] will go bust, I said it could go bust – eventually. Not tomorrow and not the day after tomorrow, but it’s basically a toy company for grownups. – Marc Faber, October 15, 2013
Direct link to video here.
MacDailyNews Take:
An optimist will tell you the glass is half-full; the pessimist, half-empty; and the engineer will tell you the glass is twice the size it needs to be. – Anonymous
[Thanks to MacDailyNews Reader “DW Bowers” for the heads up.]
So could every other company in the world. Anyone can say anything like that.
FUD!!
No no, you don’t understand. It’s Apple that will go bust, because apple just makes toys for adults. Someday these adults will wake up and see that they’ve been hoodwinked by expensive, useless toys. THEN Apple will go bust. QED
[I’m being sarcastic]
So Marc, and every other clear-thinking, hard-headed grownup will be sure to fly only Delta — whose flight bags are Microsoft Surfaces. Who wants to crash land because the pilots are playing with toy iPads up in the cockpit?
Oh, and avoid the Mayo Clinic, even if you’ve suffered a stroke: they use those Apple toys internally for medical records, physician consults, and patient care.
Steve Jobs said that death was the force that moves things forward. Old brained people that want the world to go back to their childhood will die someday. And the world will move on.
Just a thought.
Old men and old thinking and ultra conservative values. He is the poster ‘old man’ for the decrepitude of the past.
The difference is Dr. Land of Polaroid pretty much focused on one thing – instant photochemical photography (and later scanners, etc.). Polaroid was not nearly as diverse as Apple is. Apple will cannibalize itself too in order to move on to the next thing. Marc Faber is a nitwit Super Anal-Cyst without a leg of sense to stand on..
Precisely. Apple is always looking to solve a problem consumers have, even if they don’t realize it is a problem. Thus the iPod, iPhone and iPad came about. Apple will be only too happy to do the same thing to the next consumer irritant it finds a solution to.
And that’s the difference between Apple and companies like Polaroid: Apple looks to solve problems with great technology; Polaroid looked to create instant pictures, which people eventually didn’t need because of computers, digital photo frames, and — ironically — iPhones and iPads.
IBM is an example of a company that changed to remain in existence.
Good point about Apple’s diversity. Remember the uproar six years ago when Apple dropped “computer” from its name? I think they were supposed to go bust back then too.
My Budwieser rep walked into my store today with a brand new iPad that he is using to do orders etc. It is replacing his 5 pound Windows tablet that needed 3 batteries to function during the day. Anyone calling Apple a toy company is completely full of crap, this device is replacing sales tools all over the US.
My Re-Bath rep did the same thing. No hauling tile samples, countertop samples, showerhead styles, faucet photobooks etc. Whole thing done on an iPad. Oh yeh, NO HERNIA either!
Apple going “down the gurgler” as they say in the UK?
Not anytime soon. Who pays these stuck-on-stupid analysts?
Why do these kind of articles get attention? Who is this guy? And, why do these clowns always pick Apple when making these grandiose ridiculous claims? It’s weird!
They pick Apple because 1) it’s the most successful company in the world right now. 2) it’s a guaranteed source of hits. Saying “Apple” to market watchers is like saying “Squirrel” to the dog in the movie “UP” 3) It’s true. It’s also true of Microsoft, Dell, Coca Cola, Wal Mart and every company in the world. Any company could be mismanaged to the point of nonexistence.
I have no idea who Marc Faber is but based on these stunningly stupid comments I’m guessing he just got out some sort of business school.
It’s the Goliath Syndrome: A person of small stature or having low self worth who attempts to bring down or put dents in a large successful company in order to elevate his standing, usually resulting in laughter or eyes that roll to the back of ones head, several times.
I have no idea who Marc Faber is. By the article he is an attention seeking loser as far I am concern. He did not pose the big question, which will come first end of the world or Apple going bust? It rank up there with P vs NP.
Kate Faber’s dad?
Mark Faber is an Influential ‘Contrarian’ Investor, correctly predicted a few ‘crashes’, and charges a premium for his investment advice. He is an Analyst by trade, and as MDN has amply demonstrated over the past several years, Analysts really don’t understand Apple, or have a Hidden Agenda. As others have correctly noted, saying ‘Apple’ in their opinion pieces is a guaranteed attention-getter. The Advice, however, is questionable. The problem with this advice, is myopia: it is more likely that Microsoft will go bust long before Apple ever does.
The world could end someday! It’s basically just a planet rotating around the sun.
Yeah, and since no one can see gravity, it must not really exist. right??
You mean a toy planet.
Marc Faber will go bust long before.
The thing is, we’re living through a communications revolution. Cupertino, CA, is the epicenter of mass communications innovation, and this idiot is calling Apple a toy company for grownups. Kind of shocking, actually.
Now that’s a prediction we can all live with.
I’d like to bust a cap in his buttocks. How does a company burn through $150 billion and not try to avert bankruptcy along the way using some counter-measures?
A staggeringly ignorant comment.
Some people are just fucking stupid
This would be a great saying to put on the back of a Tshirt.
On the Front: I’m With Stupid – – ->
Stupidity has a nasty habit of getting its way.
Another moron… Why do people listen or pay attention???
…And every financial analyst will tell you stories so they can make money behind your backs. Roll the bones!
Polaroid didn’t 150 billion in the bank. If Apple goes bust anytime before 2033, I’m going to loose faith in America and Capitalism in general…………
Polaroid & Kodak both stopped innovating or they would lead the digital photography world.
This must be the guy that founded Faber College.
Knowledge is good.
Toga party!!
=:~)
Remember when the Germans attacked Pearl Harbor?
Any company could go bust, and most eventually do. But not yet for Apple. That is definitely a little ways off. {eye roll}
And a pragmatist wants to know where the waitress is!
Nothing that $150 billion on the bank can’t solve. I dare say that the Jobs estate has another $10 billion or so to kick in when Apple’s gas tank reaches empty.
That is if the Obama administration haven’t racked up another trillion or do in debt sinking the dollar to levels not seen since Dutch traders bought the island of Manhattan for a couple of strings of beads and trinkets.
Replace “apple” with “microsoft” in his statement and it would make a lot more sense.
The world “could” also be hit by an asteroid next year, ending all life on the planet.
A lot of things could happen.
I thought that the point of an analyst or fund manager was to determine value based on PROBABILITIES of likely outcomes within a reasonable time frame, which for the stock market is really only about 10 years.
That’s the most blatant hit and run FUD attack I’ve ever seen.
A toy company for adults? Dude, you said that out loud.
We could be invaded by aliens. We could burn in the afterglow of the sun. We could run out of oil. I know you are going to die, and pay taxes.. How about them apples.
What do you expect? His nickname is Dr. Doom. Frankly, this reads like an unqualified endorsement considering the source.
“Uh, Dr. Land, who was the founder of Polaroid, has more patents under his head than anyone else in the world and Polaroid went bust.”
Thomas Edison -1084 US Patents, Edwin H. Land -535 US Patents
CNBC and Marc Faber are liars.
Marc certainly has the qualifications to excel in the Obama administration.
Reject the false messiah, Obama!
All Hail the illumination, goodness and wisdom of the True Messiah, botvijerk!
He knoweth EVERYTHING about EVERYTHING.
All truth floweth from Him.
botvijerk messiah for President!
verily, it just looks like I knoweth alleth compareth to youeth, jackasseth.
An optimist will tell you the glass is half-full; the pessimist, half-empty … We’ll it all depends on what is in the glass, so let’s define the contents first, before we rush in with the labels.
” toy company” lol… That says it all as to how in touch this idiot is !
Comunication, computing and informatiom trchnology is are toys to this numb nut !
MDN : if a glass is filled to half way, it is half full .
If it has been drained to half way, it is half empty.
Thus unless we know if the glass has been filled or drained, it can be called both half full and half empty, both view points are equally valid.
This site is run by idiots. Trust me, I know what I am talking about. I used to work for these clowns. They laugh all the way to the bank bragging that all they have to do is copy articles from other sites or wait for monkeys to email them links that they then post. Advertisers don’t give a rat’s rut. Ad space is ad space – even if the operators are arrogant, pompous and juvenile. Glad to be gone!
bravely spoken under an alias, Messala.
… and someday pigs will fly.
So hang on Samsung, Sony, indeed every consumer centric tech company cakes toys for the grown up. That sector is not going to go away unlike the sector where you are stuck producing horse and carts for businesses who won’t let you change but when a new player comes along selling cars they all start jumping ship. You know like Microsoft, Dell and Hewlett Packard.